Gold prices keep increasing. Chinese credit markets remain in jeopardy. And of course, Wall Street has had a rocky week as recent changes to the Dow Jones industrial average made it more volatile, Cashin told CNBC.

Cashin, UBS' director of floor operations at the New York Stock Exchange, said the Chinese equivalent of the U.S. Federal Reserve's Beige Book revealed that credit transmission there may be broken. Worse-than-expected manufacturing data in China also contributed to jitters on Wall Street.